Norwegian shipping company Amon secures $25m in subsidies for new ammonia-fuelled bulkers

Norwegian shipping company Amon Maritime has secured a NOK253 million (US$25 million) grant from state enterprise Enova to support the construction of two new bulk carriers designed to operate on ammonia fuel.

Amon Bulk 1 will be a Capesize vessel with a deadweight of 180,000 and designed for long-haul transport of heavy bulk commodities while Amon Bulk 2 will be a Kamsarmax vessel with a deadweight of between 80,000 and 85,000. Both ships are scheduled to be delivered by 2029.

The NOK253 million grant has been awarded under Enova’s program for ammonia-powered vessels. Amon said it is "a major step" towards the European Union's goal of reducing greenhouse gas emissions to "net zero."

“The Capesize and Kamsarmax segments are ideal for ammonia adoption," said André Risholm, CEO of Amon Maritime.

"These vessels have high fuel consumption and operate on established routes for industrial clients with strong climate ambitions. This combination enables both substantial environmental impact and solid commercial viability."